Soreide Law Group comes to you with new information concerning Jack Charles Bixler (CRD#: 22331, Greenville, South Carolina). Particularly, Bixler, who worked for securities firm Sandlapper Securities LLC (his employer from 2006 to 2020), faces allegations of sales practice violations, including negligence, breach of fiduciary duty, and an unsuitable investment strategy. Here is an overview of the disclosures and what you could do if you experienced damages from inappropriate sales practices.
It seems that a Sandlapper Securities LLC client disputed Jack Bixler’s actions as a securities broker, according to a dispute dated November 2019. Mainly, the client’s allegations against the securities firm or broker include negligence, breach of fiduciary duty, failure to supervise, and an unsuitable trading strategy. Consequently, the client contends that Bixler’s actions produced damages in relation to the client’s investments in DPPs or LPs. Notably, the client received $57,000 in damages per a settlement of this dispute with the securities firm in August 2020.
Evidently, a client of Sandlapper Securities LLC contested Jack Bixler’s sales practices by filing an investment dispute in October 2019. The client alleges: breach of FINRA rules, misrepresentation, negligence, omissions, failure to supervise, breach of contract, and violation of California Securities Act. Supposedly, the securities firm or Bixler caused the client to incur damages on purchases of direct investments. Therefore, the client demands that the securities firm or Bixler pay them $693,123 in damages. This matter is currently unresolved.
Further, the regulator barred Jack Bixler as a securities broker in June 2020. Namely, FINRA says that Bixler misrepresented facts and omitted facts concerning investors’ interests in saltwater disposal wells in Texas. Also, FINRA says that Bixler violated his duty of loyalty and duty of care to a fund. Supposedly, Bixler violated FINRA rules and federal securities laws through causing the fund to buy interests in wells at excessive prices through a development company Bixler owned. He purportedly failed to ensure that the prices the fund paid for investments was fair. Notably, investors purportedly paid undisclosed and excessive markups amounting to more than $8M.
Did securities broker Jack Bixler cause you to suffer losses? You can contact Soreide Law Group at (888) 760-6552 to speak with a skilled securities lawyer regarding a possible recovery of your losses. Soreide Law Group represents clients on a contingency fee arrangement and advances all costs. The firm has helped many United States investors recover compensation when they have sustained damages from securities brokers or financial advisors. Please note that Bixler denies all accusations of his improper sales practices.
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